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Repligen Corporation (RGEN) Reports Third Quarter 2012 Financial Results



11/8/2012 10:16:25 AM

WALTHAM, Mass.--(BUSINESS WIRE)--Repligen Corporation (NASDAQ: RGEN) today reported financial results for its third quarter and year-to-date period ended September 30, 2012. The Company reported net income for the three-month period ended September 30, 2012 of $1,806,000 or $0.06 per diluted share, compared to $605,000 or $0.02 per diluted share for the same period in 2011, an increase of 199%. Total revenue for the three-month period ended September 30, 2012 was $15,104,000 compared to $8,631,000 for the same period in 2011, an increase of 75%. Revenue growth for the third quarter of 2012 was driven by the Company’s expanded bioprocessing business, which generated $11,123,000 in product revenue compared to $5,742,000 for the same period in 2011, an increase of 94%. Royalty and research revenue for the three-month period ended September 30, 2012, consisting primarily of royalty payments from Bristol-Myers Squibb on its U.S. sales of Orencia®, was $3,981,000 compared to $2,889,000 for the same period in 2011. September 30, 2012 marks the end of the third fiscal quarter for which the Company is reporting consolidated financial results since its acquisition of its subsidiary Repligen Sweden AB in December 2011.

Read at BioSpace.com


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